Singapore Technologies Engineering's Growth Outlook Still Seems Positive -- Market Talk

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Singapore Technologies Engineering's Growth Outlook Still Seems Positive -- Market Talk

Dow Jones2022-08-16

0333 GMT - Singapore Technologies Engineering's growth outlook still seems positive, Maybank Research's Kelvin Tan says in a research report as the analyst maintains the stock's buy rating. Drivers including a continued recovery in its aerospace segment, strong momentum of its contract wins and its robust order book, the analyst says. However, Maybank is mindful that the company's short-term margins could continue to be hurt by rising operating expenditures, front-loaded acquisition expenses and lingering uncertainty over global chip shortages. Maybank trims 2022-2024 earnings estimates for the company by 5%-6% to reflect TransCore acquisition expenses and rising cost pressures, and lowers the target price on the stock to S$4.50 from S$4.75. The shares are 0.5% lower at S$3.98. (ronnie.harui@wsj.com)

$(END)$ Dow Jones Newswires

August 15, 2022 23:34 ET (03:34 GMT)

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Big Bull
·2022-08-22
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